Help Employee Retention By Conducting A Stay Interview

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Photo credit: Alan Cleaver (Flickr)

Photo credit: Alan Cleaver (Flickr)

Performance reviews are great, but what about a stay interview? Did you know that you can help employee retention by conducting a stay interview?

Performance reviews are great for the most part. They’re great to let you know where you currently stand. But also serve as praise and inspiration for development. The only problem is that they tend to only focus on the employee since it’s all about their performance. So what about the company’s performance?

Sure, I guess technically a company’s performance is seen by its success. If you’re making money and producing whatever it is that you’re supposed to produce then you’re probably working as a company. Right?

Well, that’s actually not entirely true. Success in dollars and production don’t really speak to how the inside of the company is working. You know, how the employees are doing. And if they’re likely to stick around for the long haul.

And this is where something called a stay interview comes in.

According to an article written by Sirmara Campbell Twohill, Chief Human Resources Officer at LaSalle Network a Staffing and Recruiting Firm Headquartered in Chicago, stay interviews are “a performance review on the company, and organizations that don’t conduct some variation of this are not protecting the key to the company’s success: their talent.”

So what exactly is a stay interview? Well, per Campbell Twohill, they’re basically interviews conducted with employees about what they do and don’t like about their role, who they’re working for, and so on.

And they’re incredibly important. After all, if you don’t know that an employee is unhappy how are you supposed to fix it (and retain the employee)? Sure, the employee might come to you with an issue, but it’s not likely. Stay interviews help provide an open environment for employees to talk about problems and issues. The sense of trust an effective leader establishes in this setting allows the employee to feel esteemed and appreciated; allowing them the freedom to be completely open and honest.

Among about a dozen other factors, stay interviews also help employees to feel valued and challenged. Both of which are important factors in employee retention.

So what do you think about stay interviews? Is this something you’d like to implement? Or have you already? We want to hear your thoughts in the comments.